Trading Idea for Ecolab Inc. (NYSE)

Ecolab Inc. (NYSE)
#ECL

The trend is bullish. The downward wave structure is truncated. The stock is trading between the 365 EMA and 135 EMA. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator indicates oversold conditions. 

 

Trading idea:
Enter a buy position upon the formation of an upward wave structure, where wave (A) breaks through the trendline of the truncated downward structure.

• Stop Loss: 271.70 (below the local low of the truncated downward structure)

• Target levels: 277.30; 280.74